This morning Embracer group has announced that it is splitting up the company into 3 separate entities that will all be publicly traded.
The new companies will now be:
- Asmodee, a global leading tabletop games publisher and distributor with an extensive studio network and IP catalogue.
- Coffee Stain & Friends, a diverse gaming entity with a dual focus on indie and A/AA premium and free-to-play games for PC/console and mobile, with a high degree of recurring revenues.
- Middle-earth Enterprises & Friends, a creative powerhouse in AAA game development and publishing for PC and console, as well as the stewards of The Lord of the Rings and Tomb Raider intellectual properties, among many others.
As part of the new re-structuring is a 900 million EURO finance agreement for Asmodee. Embracer CEO spoke on the situation:
"This move has been made with the intention to unleash the full potential of each team and provide them with their own leadership and strategic direction. This is the start of a new chapter, a chapter that I intend to remain part of as an active, committed, and supportive shareholder of all three new entities, with an evergreen horizon. This move towards three independent companies reinforces Embracer's vision of backing entrepreneurs and creators with a long-term mindset, allowing them to continue to deliver unforgettable experiences for gamers and fans across the globe", says Lars Wingefors, co-founder and Group CEO of Embracer Group.
Embracer group had been leading the charge of buying up studios and publishers a few years ago but after it's funding deal with fell through they had financial troubles which led to selling companies such as Saber Interactive & Gearbox.
Hopefully the new organization's will solve their problems moving forward.
